Aseer Trading trims net loss to SAR 28.7 mln in 9M 2021

07/11/2021 Argaam Exclusive

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Aseer Trading, Tourism and Manufacturing Co. trimmed net loss after Zakat and tax to SAR 28.7 million for the first nine months of 2021, from SAR 32.8 million in a year-earlier period.

This was driven by lower general and administrative expenses (G&As), lower operating losses, in addition to recording FX gains.

Financials (M)

Item	9m 2020	9m 2021	Change‬
Revenues	1,206.99	1,240.77	2.8 %
Gross Income	359.13	356.72	(0.7 %)
Operating Income	42.57	47.36	11.2 %
Net Income	(32.81)	(28.73)	12.4 %
Average Shares	126.39	126.39	-
EPS (Riyals)	(0.26)	(0.23)	12.4 %

Q3 2021 net loss after Zakat and tax narrowed 10.44% year-on-year (YoY) to SAR 26.6 million on lower operating losses, decreased G&As, in addition to recording FX gains.

The company also cited lower financing expenses.

On a sequential basis, net loss widened in Q3 2021, versus SAR 0.8 million in year-earlier period.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2020	Q3 2021	Change‬
Revenues	411.24	411.17	0.0 %
Gross Income	122.14	116.64	(4.5 %)
Operating Income	21.93	20.01	(8.7 %)
Net Income	(29.74)	(26.56)	10.7 %
Average Shares	126.39	126.39	-
EPS (Riyals)	(0.24)	(0.21)	10.7 %

Item	Q2 2021	Q3 2021	Change‬
Revenues	403.40	411.17	1.9 %
Gross Income	114.47	116.64	1.9 %
Operating Income	12.43	20.01	61.0 %
Net Income	(0.79)	(26.56)	(3,283.3 %)
Average Shares	126.39	126.39	-
EPS (Riyals)	(0.01)	(0.21)	(3,283.3 %)

Total shareholders’ equity (after deducting minority equity) grew 3.6% year-on-year (YoY) to SAR 1.49 billion in the nine-month period.

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